Goldstone Resources Inc.
TSX : GRC
PINK SHEETS : GRSZF

Goldstone Resources Inc.

January 24, 2011 09:29 ET

Goldstone Appoints Langstaff Senior Project Geologist

TORONTO, ONTARIO--(Marketwire - Jan. 24, 2011) - Goldstone Resources Inc. (TSX:GRC)(PINK SHEETS:GRSZF) today announced the appointment of Dr. George Langstaff as Senior Project Geologist, based at the Company's Beardmore, Ontario field office.

Holder of a Ph.D. in Geology from the Colorado School of Mines, Dr. Langstaff has broad experience exploring for precious and base metal deposits in North America and around the world, both as an independent consultant and working for major corporations. In 2000, his ore deposit model and drill targets for the Red Lake Mine tied for third place in the prestigious Goldcorp Challenge.

"George's experience, commitment and proven skills will be a major asset in planning and executing our multi-rig, $6.5 million 2011 exploration program. We're excited about his contribution to our efforts to expand Goldstone's resource base," said Philip Cunningham, Chairman and Interim Chief Executive Officer.

About Goldstone

Goldstone Resources Inc. is a gold exploration and development company operating in the Geraldton-Beardmore camp of Northwestern Ontario, host to mines with historical production of more than 4.1 million ounces of gold from high grade ore—and to Goldstone's fully permitted Northern Empire mill. Goldstone is focused on exploration and deposit delineation at its 100%- owned Key Lake, Brookbank, Northern Empire, and Leitch-Sand River gold properties, and as a partner with a 30 percent carried interest in the Hardrock Project joint venture with operator Premier Gold Mines Limited. Eight rigs will be active as part of the 2011 Hardrock Project exploration program.

NI 43-101-compliant resource estimates for the Company's Brookbank (dated May 2009) and Northern Empire Mine properties (dated November 2008) contain combined indicated and inferred resources in excess of 800,000 ounces of gold. At the Hardrock project, an updated NI 43-101-compliant resource estimate is expected in early 2011.

Further information is available on the Company's website at www.grcmines.com and on SEDAR under the Company's profile at www.sedar.com.

Forward-Looking Statements

This news release may contain forward-looking information under applicable securities laws concerning Goldstone's business, operations, financial performance, condition and prospects, as well as management's objectives, strategies, beliefs and intentions. Forward looking information is frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "intend" and similar words referring to future events and results. This forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, delay or inability to retain a senior operating officer, unanticipated operational or technical difficulties, changes in laws or regulations, the risks of obtaining necessary licenses and permits, changes in general economic conditions and changes in conditions in the financial markets. Readers are cautioned not to place undue reliance on this forward-looking information as actual results may differ materially from those expressed or implied in the forward looking information. Goldstone does not assume the obligation to revise or update this forward-looking information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.

Neither Toronto Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Goldstone Resources Inc.
    Philip Cunningham
    Chairman and Interim CEO
    (416) 860-1636
    www.grcmines.com